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Last kr26.13 SEK
Change Today -0.42 / -1.58%
Volume 1.0M
SSABB On Other Exchanges
As of 11:29 AM 11/27/15 All times are local (Market data is delayed by at least 15 minutes).

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ssab ab - b shares (SSABB) Details

SSAB AB produces and sells steel products in Sweden and internationally. It operates in five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The company offers structural steel for sustainable and lightweight solutions; wear plate for maximum payload and service life; cold rolled steel for lightweight and safe components; structural steel for heavy and demanding applications; pre-painted steel for buildings; protection plate for the safety of life and property; and engineering and tool steel. It also provides products include quenched steel, heavy plates, and various strip products, as well as tubes and sections, and infra products. In addition, the company offers hot- and cold-rolled, and heavy plate coils, as well as metal-coated products; beams, merchant bars, hollow sections, and reinforcement bars; aluminum and copper stainless steel and non-ferrous metals; steel tubes and profiles; and steel piles. Further, it provides steel roofs, rainwater systems, and accessories; building components, such as sandwich panels, load-bearing sheets, and façade claddings; solutions for single- and multi-storey commercial, office, and industrial construction, including steel frame, and roof and wall components; and design, installation, and other services. Additionally, the company is involved in the provision of value added services, such as design, processing, logistics, and aftermarket services. SSAB AB markets its steel products under the Hardox, Raex, Domex, Weldox, Optim, Toolox, Armox, and Ramor brand names. It also exports its products. The company offers its products to heavy transport, automotive, energy, material handling, infrastructure, agriculture, construction, manufacturing, and mining industry customers. SSAB AB was founded in 1978 and is headquartered in Stockholm, Sweden.

16,215 Employees
Last Reported Date: 10/22/15
Founded in 1978

ssab ab - b shares (SSABB) Top Compensated Officers

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ssab ab - b shares (SSABB) Key Developments

ESL Shipping Signs Long-Term Agreement for Raw Material Sea Transport with SSAB

Aspo's ESL Shipping has signed a long-term agreement for raw material sea transport with SSAB and orders the world's first large LNG-fueled bulk carriers. Aspo Group's ESL Shipping Ltd. and SSAB have signed a long-term frame agreement covering SSAB's inbound raw material sea transports within the Baltic Sea and from the North Sea. The purpose of the agreement is to enable mutual, long-term gains in efficiency and to reduce overall logistics costs, while simultaneously making raw material logistics as sustainable and environmentally friendly as possible. At present, the aggregated sea transport volume covered by the agreement is estimated to be 6-7 million tons annually. Resulting from the agreement, ESL Shipping will order new, extremely energy-efficient LNG-fueled ships. These new, ice-class 1A ships will be the first LNG-fueled large bulk carriers in the world, representing the latest in technology and innovation. CO2 emissions per ton of cargo transported will be reduced by more than 50% in comparison to present vessels. The two new vessels will be built at Sinotrans & CSC Qingshan Shipyard in China and will start operating in the Baltic Sea in early 2018. The total value of the investment is approximately EUR 60 million. The investment cash flow will be divided progressively between 2015 and 2018. The construction work is made together with the Finnish designer Deltamarin. ESL Shipping has been working in close cooperation on the ship design and tailor-made the ships according to customer needs. Special attention was given to the efficiency of cargo handling and cargo hold arrangements. The new ship also exhibits efficient operation and extensive model tests have been performed for both water (SSPA) and ice class (Aker Arctic) operations.

SSAB Reports Consolidated and Parent Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

SSAB reported consolidated and parent earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, on consolidated basis, the company reported sales of SEK 13,594 million compared to SEK 13,314 million a year ago. Operating loss was SEK 191 million compared to operating profit of SEK 229 million a year ago. Loss for the period attributable to parent company's shareholders was SEK 285 million or SEK 0.52 per share compared to SEK 169 million or SEK 0.35 per share a year ago. Cash flow from operating activities was SEK 272 million compared to SEK 24 million a year ago. Capital expenditure payments in plants and machinery were SEK 725 million compared to SEK 529 million a year ago. EBITDA was SEK 751 million compared to SEK 1,246 million a year ago. The quarter was adversely affected by negative currency effects of around SEK 200 million. Compared with the third quarter of last year (pro forma), earnings were down by SEK 600 million. This was primarily due to lower margins on heavy plate in North America (SEK 420 million), the costs of relining the blast furnace in Luleå (SEK 180 million), and negative currency effects (SEK 260 million). Operating cash flow in the third quarter was slightly negative primarily due to the capital expenditure costs of relining the blast furnace in Luleå (SEK 300 million) and the weak result. For the nine months, on consolidated basis, the company reported sales of SEK 44,365 million compared to SEK 32,552 million a year ago. Operating profit was SEK 635 million compared to operating profit of SEK 515 million a year ago. Profit for the period attributable to parent company's shareholders was SEK 166 million or SEK 0.30 per share compared to loss of SEK 86 million or SEK 0.23 per share a year ago. Cash flow from operating activities was SEK 2,510 million compared to SEK 414 million a year ago. Capital expenditure payments in plants and machinery were SEK 1,902 million compared to SEK 1,020 million a year ago. EBITDA was SEK 3,498 million compared to SEK 3,354 million a year ago. Net debt at end of period was SEK 24,814 million compared to SEK 22,963 million a year ago. For the quarter, on parent basis, the company reported operating loss was SEK 46 million compared to SEK 87 million a year ago. Profit after tax was SEK 631 million compared to loss of SEK 326 million a year ago. For the nine months, on parent basis, the company reported operating loss was SEK 144 million compared to SEK 156 million a year ago. Profit after tax was SEK 1,235 million compared to loss of SEK 175 million a year ago.

SSAB to Initiate Negotiations to Reduce Workforce in Finland

SSAB is to initiate employer-employee negotiations regarding a potential reduction in the workforce at SSAB Europe division's production site in Raahe and in the Ruukki Construction division. These negotiations are being initiated due to reasons related to production, financial situation and operational restructuring. The negotiations will affect around 2,900 employees in Finland and there is a need to reduce the workforce by a maximum of 295 persons. The negotiations at Ruukki Construction aim to reduce costs by a total of at least SEK 200 million on a permanent annual basis. This is in addition to SSAB's cost synergies of SEK 1.4 billion announced earlier. The negotiations at the Raahe site affect the entire personnel, 2,455 persons: all employees in production and support functions at SSAB Europe, SSAB Special Steels and group functions. The plans will mean a reduction of a maximum of 210 jobs (140 front-line workers and 70 office employees). For SSAB Europe, these plans are a necessary part of the efficiency and synergy program the group announced earlier as a consequence of the combination of SSAB and Rautaruukki. Integration is progressing to plan. Ruukki Construction continues with the restructuring and has launched a new cost-savings program across its business in all countries where it operates. The program aims to achieve a permanent cost impact on an annual basis of at least SEK 200 million in processing, administration, marketing and sales costs, with full impact from 2017 onwards. These costs savings will seek to ensure business profitability and improve operational efficiency. Division-wide, there is a need to reduce the workforce by approximately 300 persons. Ruukki Construction will consider additional structural changes to its operations during the second phase of the program if the market situation remains challenging. The employer-employee negotiations now being initiated in Finland affect most of the employees in production, sales and support functions, a total of 434 persons at several sites including Alajärvi, Espoo, Helsinki, Hämeenlinna, Kouvola, Kuopio, Oulainen, Oulu, Pietarsaari, Pori, Seinäjoki, Tampere, Turku, Vaasa, Vimpeli and Ylivieska. There is a need to reduce the workforce by a maximum of 85 people (26 front-line employees and 59 office employees). Employer-employee negotiations in respect of both Raahe and Ruukki Construction will last a minimum of six weeks. The plan is to carry out most of the workforce reductions during the first half of 2016. Efforts will be made to carry out some of the reductions by not renewing fixed-term contracts and through natural attrition. SSAB Europe has responsibility for strip, plate and tubular products in Europe, and global profit responsibility for the Automotive segment. SSAB Europe has production facilities in Raahe and Hämeenlinna (Finland), and in Luleå and Borlänge (Sweden). Ruukki Construction is responsible for the sales and production of energy-efficient building and construction solutions. Ruukki Construction also includes Plannja, which was earlier part of the SSAB EMEA business area.


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